We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Schwab Stock Falls Despite Improvement in February Metrics
Read MoreHide Full Article
Despite an improvement in monthly activity for February 2018 from the year-ago period, shares of The Charles Schwab Corporation (SCHW - Free Report) declined nearly 2% following the release. Total client assets were $3.3 trillion at the end of the month, jumping 15% year over year.
Further, client assets receiving ongoing advisory services were $1.7 trillion, increasing 17% year over year. Also, Schwab’s average interest earning assets were $239.9 billion at February end, reflecting 11% rise from the prior-year month.
Notably, the company opened 138,000 new brokerage accounts in February, a jump of 22% from the prior-year month. Net new assets, through both existing and new clients totaled $21.3 billion, excluding outflows of $71.8 billion from certain mutual fund clearing services clients.
In fact, Schwab’s active brokerage accounts totaled 10.9 million at the end of the month, up 7% from the February 2017 level. Client’s banking accounts at the end of the reported month were 1.22 million, rising 9% from the year-ago period. Also, the number of retirement plan participants inched up 3% year over year to 1.58 million.
Consequently, the stock has rallied 36.8% over the last six months, outperforming 25.5% gain for the industry.
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) for February 2018. According to its monthly market activity, the company’s DARTs came in at 330,121, up 5% from the prior month and 51% year over year.
Notably, derivatives comprised 31% of DARTs in February.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for February 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally.Total client DARTs came in at 1,020,000, increasing 50% from February 2017 and 13% from January 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report its monthly activity for February 2018 next week.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Schwab Stock Falls Despite Improvement in February Metrics
Despite an improvement in monthly activity for February 2018 from the year-ago period, shares of The Charles Schwab Corporation (SCHW - Free Report) declined nearly 2% following the release. Total client assets were $3.3 trillion at the end of the month, jumping 15% year over year.
Further, client assets receiving ongoing advisory services were $1.7 trillion, increasing 17% year over year. Also, Schwab’s average interest earning assets were $239.9 billion at February end, reflecting 11% rise from the prior-year month.
Notably, the company opened 138,000 new brokerage accounts in February, a jump of 22% from the prior-year month. Net new assets, through both existing and new clients totaled $21.3 billion, excluding outflows of $71.8 billion from certain mutual fund clearing services clients.
In fact, Schwab’s active brokerage accounts totaled 10.9 million at the end of the month, up 7% from the February 2017 level. Client’s banking accounts at the end of the reported month were 1.22 million, rising 9% from the year-ago period. Also, the number of retirement plan participants inched up 3% year over year to 1.58 million.
Consequently, the stock has rallied 36.8% over the last six months, outperforming 25.5% gain for the industry.
Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Investment Brokers
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) for February 2018. According to its monthly market activity, the company’s DARTs came in at 330,121, up 5% from the prior month and 51% year over year.
Notably, derivatives comprised 31% of DARTs in February.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for February 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally.Total client DARTs came in at 1,020,000, increasing 50% from February 2017 and 13% from January 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report its monthly activity for February 2018 next week.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>